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11-08-2015, 10:40 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
USD going 1.4 against SGD by today!!!
The People's Bank of China allowed the yuan to depreciate almost 2 percent against the U.S. dollar, sending a shock through currency markets.
In a statement, the Chinese central bank said that it had changed the way it calculated the currency's daily midpoint against the greenback, now taking the midpoint from market-makers quotes and the previous day's closing price.
Dow Jones reported that the yuan quickly fell 1.3 percent against the dollar. The Singapore, New Zealand and Australian dollars, as well as the South Korean won, also dropped against the U.S. dollar in reaction.
This is a breaking news story. Please check back for more detail.
http://www.cnbc.com/2015/08/10/rply-...7Cbreakingnews (http://www.cnbc.com/2015/08/10/rply-depreciate-to-yuan.html?__source=newsletter%7Cbreakingnews)
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?212388-PBOC-sharply-cuts-yuan&goto=newpost).
USD going 1.4 against SGD by today!!!
The People's Bank of China allowed the yuan to depreciate almost 2 percent against the U.S. dollar, sending a shock through currency markets.
In a statement, the Chinese central bank said that it had changed the way it calculated the currency's daily midpoint against the greenback, now taking the midpoint from market-makers quotes and the previous day's closing price.
Dow Jones reported that the yuan quickly fell 1.3 percent against the dollar. The Singapore, New Zealand and Australian dollars, as well as the South Korean won, also dropped against the U.S. dollar in reaction.
This is a breaking news story. Please check back for more detail.
http://www.cnbc.com/2015/08/10/rply-...7Cbreakingnews (http://www.cnbc.com/2015/08/10/rply-depreciate-to-yuan.html?__source=newsletter%7Cbreakingnews)
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?212388-PBOC-sharply-cuts-yuan&goto=newpost).